Industrial Strategy: building a Britain fit for the future

Industrial Strategy

Building a Britain fit for the future

Industrial Strategy White Paper

Contents

2

Foreword from the Prime Minister Foreword from the Secretary of State Introduction Grand Challenges Ideas People Infrastructure Business Environment Places Conclusion: Britain and the world

04 06 08 30 56 92 126 162 214 240

Industrial Strategy White Paper

Foreword from the Prime Minister

Over the last seven years, we have made huge progress in restoring our public finances and rescuing our economy from the brink of bankruptcy. Thanks to the sacrifices of the British people, the deficit is now down two-thirds since 2010, the unemployment rate is at its lowest in over 40 years and we have had 19 continuous quarters of economic growth.

We should take enormous pride in these achievements and the difference they are making for many families and businesses in our country. But at the same time, we must also recognise there are some communities which have struggled to keep pace with changes in the global economy and as a result not fully shared in the prosperity that growth has delivered.

For me it is not enough to see growth in the national economy if your local economy is shrinking. It is not ambitious enough to have record jobs growth, unless those jobs are secure and delivering real growth in wages. And we are not fulfilling Britain's potential if, despite having scientists and universities renowned the world over, we cannot turn their ideas into the products and services on which the industries of the future will be built.

That is why one of my first actions as Prime Minister was to begin the development of a modern Industrial Strategy that would help businesses to create high quality, well paid jobs right across the country. This document is a vital step in delivering that vision. More than just a set of announcements, it heralds a new approach to how government and business can work together to shape a stronger, fairer economy. At its heart it epitomises my belief in a strong and strategic state that intervenes decisively wherever it can make a difference. It is rooted in the conviction that a successful freemarket economy must be built on firm foundations: the skills of its workers, the quality of the infrastructure, and a fair and predictable business environment. And where these are missing it takes energy and partnership between government and the private sector to address the problems.

4

That is exactly what this Industrial Strategy aims to do. It will help young people develop the skills they need to do the high-paid, high-skilled jobs of the future. It backs our country for the longterm: creating the conditions where successful businesses can emerge and grow, and helping them to invest in the future of our nation. And it identifies the industries that are of strategic value to our economy and works to create a partnership between government and industry to nurture them. In doing so, it will help propel Britain to global leadership of the industries of the future - from artificial intelligence and big data to clean energy and self-driving vehicles.

Two centuries ago it was our industrial revolution which led the world. Thirty years ago, it was our bold, pro-market reforms which set an example for others to follow. Today, our ambition is just as high. As we leave the European Union and forge a new path for ourselves, so we will build a Britain fit for the future and fulfil the mission that I set on my first day as Prime Minister: to make our United Kingdom a country that truly works for everyone.

The Prime Minister

5

Industrial Strategy White Paper

Foreword from the Secretary of State

We are at one of the most important, exciting and challenging times in the history of global enterprise.

Powered by new technologies, the way we live our lives as workers, citizens and consumers is being transformed across the world.

Britain is extraordinarily well-placed to benefit from this new industrial revolution. We are an open enterprising economy, built on invention, innovation and competition. Our universities and research institutions are among the best in the world. We have a deserved reputation for being a dependable and confident place to do business, with high standards, respected institutions, and the reliable rule of law. We have achieved near historic levels of employment. We are a crossing point for the world because of our geographic position, the English language, our strong ties, our openness to ideas and our vibrant culture. We have many industries - from financial services to advanced manufacturing, from the life sciences to the creative industries ? which are world leading.

More decisions about our economic future will be in our own hands, and it is vital that we take them.

In our Industrial Strategy we set out how we will build on our strengths, extend them into the future and capitalise on the opportunities before us.

A serious strategy must also address the weaknesses that keep us from achieving our full potential.

For all the excellence of our worldbeating companies, the high calibre of our workforce and the prosperity of many areas, we have businesses, people and places whose level of productivity is well below what can be achieved.

By improving productivity while keeping employment high, we can earn more ? raising living standards, providing funds to support our public services and improving the quality of life for all our citizens.

To benefit from the opportunities before us, we need to prepare to seize them. This would be needed at any time, and Britain's decision to leave the European Union makes it even more important.

So this Industrial Strategy deliberately strengthens the five foundations of productivity: ideas, people, infrastructure, business environment and places.

6

As well as setting a path to improved productivity, our Industrial Strategy sets out four areas where Britain can lead the global technological revolution.

These four Grand Challenges ? in artificial intelligence and big data; clean growth; the future of mobility; and meeting the needs of an ageing society ? have been identified on the advice of the our leading scientists and technologists. They will be supported by investment from the Industrial Strategy Challenge Fund and matched by commercial investment.

Our Industrial Strategy will inform decisions now, and in the future. Other countries have benefited from establishing policies and institutions which endure. That is our aim. Through the consultation on our Green Paper, over 2,000 organisations from all parts of the United Kingdom have helped shape this strategy.

That partnership with innovators, inventors, job creators, local leaders, the devolved administrations, workers and consumers will continue as we work together to make our country fit for the future.

Rt Hon Greg Clark MP

Secretary of State for Business, Energy and Industrial Strategy

7

Industrial Strategy White Paper

Introduction

8

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download